Domestic reverse charging of VAT functionality
Zoho books has an option to account for reverse charging VAT when buying/selling products from Europe. However, there are several products that are reverse charged domestically. It is not possible to account for these in Zoho Books. Later in the year I understand that certian building activities will be dragged into the reverse charging category. I want to but I can't use Zoho Books until this feature is added, others may have to stop using it if it is not added.
Louis Redshaw
shared this idea
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Anonymous
commented
This is a very important feature. Quickbooks has it right, Zoho has it wrong. It should be possible to make selections on expenses and bills as follows: Goods or Services. On expenses it is possible on BILLS it iis not possible. Choice of goods or services impacts whether or not item goes into box 1 or 2 on the VAT return. Second, it should be possible to allow for non-reverse charge purchases even with VAT registered counterparties. The best solution is always to make these choices when entering the invoice or expense item. Lastly the selection of Vendor should not override choices on bills. A default setup fo the vendor is just not appropriate. I've got several Zoho UK accounts and I will migrate back to Quickbooks if this is not changed.